U.S.-China Tensions Send Stocks Reeling Midday

The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are both down over 500 points at midday, while the S&P 500 Index (SPX) sports a rare triple-digit deficit as well. President Trump threatened a massive tariff hike on China over their control of global rare-earth metal resources, and tech stocks are sinking in response, with Advanced Micro Devices (AMD) down over 7%.

Trump canceled his meeting with President Xi, which was set to take place in South Korean in two weeks. On the heels of today's selloff, all three indexes are pacing for a weekly loss, though the Nasdaq managed to hit a record peak before pulling back.

Continue reading for more on today's market, including:

• Data center expansion boosts Applied Digital stock. 
• Another satellite stock has entered the stratosphere. 
• Plus, options traders target WULF's three-year highs; SGBX regains Nasdaq compliance; and USNA sinks on preliminary results. 

Terawulf Inc (NASDAQ:WULF) is the most popular stock in the options pits today, as the Google-backed crypto mining stock hits three-year highs -- up 5.8% at $14.38 at last glance. So far, 323,000 calls and 46,000 puts have been exchanged, which is already 4 times the average daily options volume. The October 17 call is the most popular, followed by 15 call in the same series, with new positions opening at both. The shares are heading for their eighth-straight daily win with help from the 20-day moving average. Year to date, the equity is up roughly 156%. 

Safe & Green Holdings Corp (NASDAQ:SGBX) is one of the top performers on the Nasdaq today. The stock is up 108% at $6.74 at last glance after news that it regained compliance with all Nasdaq requirements, with the matter closed Oct. 3. Shooting out of penny stock territory SGBX is still a far cry from its 2025 peak of $122.88 on Jan. 15. Year over year, the equity is down 90%. 

Shares of Usana Health Sciences Inc (NYSE:USNA) are down 22.7% at $20.36, heading for their worst daily percentage loss since 2001, after the company's preliminary third-quarter results came in below expectations. Now trading at its lowest levels since 2013, USNA is down 42.6% year to date.